EURUSD 4H
Long or Short: long
Entry Point: 1.3530
Stop Loss: 1.3450
Profit Target/s: 1.3700
Reward-to-risk Ratio: more than 2:1
Risk percentage: 1%
Indicators used: 100 SMA
Trade Rationale: i think today’s NFP report will serve as a catalyst for a breakout. i read that analysts believe it’s highly unlikely that this report will present positive news, so i think that disappointing employment data will kill demand for the dollar and cause EURUSD to rally. should that happen, i think we’ll see a strong breakout above the 100SMA, falling trendline, and 1.3500 level.
Trade Adjustments: stop to BE when trade is positive by 70 pips